Staff Correspondent
The first ministerial meeting of Developing-8 group has decided to manufacture a common brand low-cost motor vehicle for use by member countries as well as for export to other countries, said industries minister Dilip Barua on Thursday.
‘Malaysia, Turkey and Iran will jointly prepare a design for the common brand car as the countries have car manufacturing factories,’ he said at a press conference at the industry ministry on his return from Tehran after attending the three-day D-8 ministerial meeting in March 1-3.
The meeting of the industries ministries of D-8 member countries also decided to form an automotive specialised working group.
‘Once we manufacture the car, the member countries will get the cars at a lower price,’ said Barua.
The D-8 is an economic alliance of eight countries – Bangladesh, Egypt, Indonesia, Iran, Malaysia , Nigeria , Pakistan and Turkey- that account for almost 60 per cent of the world’s Muslim population.
Barua said the D-8 countries were manufacturing five per cent of the total motor vehicles in the world and the D-8 countries would embark on exporting the manufactured motor vehicles after fulfilling local demands.
‘Besides, Iran has proposed for creating an investment fund, where Iran has already given 15 million euro, for encouraging investment in the member countries,’ he added.
The D-8 meeting has decided to increase total contribution in international trade from 3.3 per cent to 10 per cent in next two years, the minister said.
Barua pointed out that there was bright possibility of setting up of joint car manufacturing company in Bangladesh with the assistance of Iran as he had already talked to the authorities of the Iranian car company ‘Sipa’ on the sideline of the meeting.
He also said Dhaka sought assistance from the D-8 member countries for industrial development, information and communications technology and building quality human resources.
As the host country, Iran has submitted the draft of the D-8 Industrial Cooperation Development Strategy to the panel of experts for endorsement. Established at Turkey’s initiative after the ‘Conference on Cooperation for Development’ on October 22, 1996, the D-8 group held its first summit in Istanbul on June 15, 1997.
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